Jul 26, 2011

Bukit Asam 1H net profit jumps 79%

The state-controlled coal miner PT Bukit Asam Tbk (PTBA) today reported Rp1.61 trillion net profit or Rp699 per share in the first half of this year, reflecting a 78.97% from Rp901.07 billion net profit or Rp394 per share a year earlier.

The robust bottom line was underpinned by higher coal sales. Operating profit rose 87.62% to Rp1.97 trillion from Rp1.05 trillion, surging its margin to 38.48% from 27.70%. Bukit Asam posted Rp5.12 trillion in sales, a 35.09% increase from Rp3.79 trillion